Today, on the auspicious occasion of Diwali, the Bombay Stock Exchange's major index Sensex opened up 336.14 points (0.77 per cent) at 43779.14 level. This is the highest level of the SENSEX. At the same time, the National Stock Exchange Nifty started with a gain of 102.10 points (0.80 per cent) at 12822.05. It is known that the index has recovered the entire loss in the year 2020. It closed at 41,306.02 on January 1, 2020.
Today the Hindu calendar i.e. Samvat 2076 has also ended. It is called the Hindi calendar year, which begins on the day of Diwali. Samvat 2077 begins with Muhurta Trading. In Samvat 2076, the Sensex gained 4384 points, or 11.22 percent.
Muhurta Trading was inaugurated by Mumbai actor Atiya Shetty at Bombay Stock Exchange in Mumbai.
– BSE India (@BSEIndia) November 14, 2020
State of heavy stock
Talking about the big stocks, Tata Motors, Bharti Airtel, Bajaj Finserv, ONGC, HDFC Life, Tata Steel, Infosys, IndusInd Bank, UPL and ITC were the biggest openers at the start of business today.
Monitoring of sectoral index
If we look at the sectoral index, then all the sectors opened on the green mark today. These include realty, auto, pharma, FMCG, finance services, banks, private banks, PSU banks, IT, metals and media.
This was the condition of the stock market during the pre open
The Sensex was up 372.45 points, or 0.86 per cent, at 43815.45 levels during the pre-open from 6 pm to 6:08 pm. The Nifty was up 103.40 points, or 0.81 per cent, at the level of 12823.35.
Why is Diwali special for Indian investors?
In India, Diwali signifies the victory of 'light on darkness', 'good over evil' and 'knowledge over ignorance'. People cleaning their homes, wearing new clothes, exchanging gifts and sweets and buying gold. Apart from its spiritual significance, it also marks the beginning of the traditional Hindu accounting year, which is called ‘Samvat’. Lakshmi, the goddess of wealth and prosperity, and Ganesh, the god of beginnings, are worshiped on Diwali.
Importance of Muhurta Trading
In Muhurta Trading Session, investors and brokers buy value-based stocks, which are good for long-term. It is believed that the position of planets in special Muhurta is such that the investment made brings good luck to the investors. Many investors believe that shares bought on this occasion should be kept as lucky charms. They buy shares and even take them to the next generation. Diwali is considered an ideal day to start anything new. Many people make their first investment in the stock market during this particular trading session.
The market was open on the previous trading day in decline
On Friday, the Sensex opened 257.28 points (0.59 per cent) down at 43099.91 and the Nifty opened 69.40 points down (0.55 per cent) at 12621.40.
The market closed on the green mark on Friday
The stock market returned bright on the previous trading day and it closed at the edge. The Sensex closed up 85.81 points at 43443, up 0.20 percent. The Nifty closed at 12719.15 level with a gain of 0.23 per cent (29.15 points).